The district may:
(1) control, store, preserve, and distribute the water and floodwater in the district for the irrigation of arid land, conservation, preservation, reclamation, and drainage of land in the district;
(2) carry out flood prevention measures to prevent damage to land and property in the district; and
(3) reclaim lands damaged before April 10, 1961, because of the prior failure to provide the facilities authorized to be constructed under this chapter.